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Upcoming Annual General Meeting in LeoVegas – Board withdraws proposals on dividend and incentive program, nomination committee presents its proposal



Upcoming Annual General Meeting in LeoVegas - Board withdraws proposals on dividend and incentive program, nomination committee presents its proposal
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In light of MGM Casino Next Lion, LLC’s (“MGM”) public takeover offer to the shareholders in LeoVegas AB (publ) (“LeoVegas” or the “Company”) that was made public on 2 May 2022 (the “Offer”), the board of directors of LeoVegas has resolved to withdraw its previously communicated proposals on dividend and an incentive program ahead of the annual general meeting on 19 May 2022.

Dividend and incentive program

The board of directors notes that:

  • as regards dividend, MGM has stated that in the event that LeoVegas should pay any dividend prior to the settlement of the Offer, the price per share in the Offer will be reduced correspondingly. Since the dividend, in accordance with previous years, is proposed to be distributed in four tranches, the board of directors finds that the consideration in MGM’s Offer will be clearer and simpler to LeoVegas’ shareholders if no dividend is paid before the outcome of the Offer has been presented; and
  • as regards the proposal on an incentive program, the implementation of such a program would not serve its purpose and not be in the Company’s best interest if MGM completes the Offer.

In case MGM’s Offer to the shareholders in LeoVegas is not completed, the board of directors intends to summon an extraordinary general meeting to resolve on dividend and implementation of an incentive program.

The nomination committee’s proposals

LeoVegas’ nomination committee has now completed its work ahead of the annual general meeting and presents the following proposals:

  • that the board shall consist of seven directors;
  • that the current directors Per Norman, Anna Frick, Mathias Hallberg, Carl Larsson, Fredrik Rüden, Torsten Söderberg and Hélène Westholm are re-elected;
  • that Per Norman is re-elected as chairman of the board;
  • that the remuneration to the board of directors shall be not more than SEK 3,000,000 in total, including remuneration for committee work (SEK 3,000,000 previous year), and shall be paid to the board of directors and the members of the established committees in the following amounts:
    • SEK 325,000 for each of the non-employed directors and SEK 650,000 to the chairman provided that the chair is not an employee;
    • SEK 50,000 for each of the non-employed members of the remuneration committee and SEK 100,000 to the chairman of the committee who is not also an employee; and
    • SEK 50,000 for each of the non-employed members of the audit committee and SEK 100,000 to the chairman of the committee who is not also an employee; and
  • that the registered audit firm PricewaterhouseCoopers AB is re-elected as the company’s auditor for a period up until the end of the next annual general meeting. PricewaterhouseCoopers AB has announced its appointment of Niklas Renström as main responsible auditor.


The Metaverse in 2022 and Beyond



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We launched the first edition of our metaverse report in July 2021.
Then, the metaverse, NFTs, and blockchain gaming transitioned from being largely unknown concepts to ubiquitous terms on the lips of
every major brand or investor. Despite the hype somewhat cooling down in recent months—partly as a result of the global macroeconomic situation—interest in the metaverse as a natural and immersive successor to the 2D internet is still at an all-time high.
The transition from Web 2.0 to Web 3.0 will not only impact the modus operandi of (major) brands, but also the way in which consumers live, work, and experience entertainment.
The evolution of simulated, 3D worlds presents a particularly massive opportunity for brands. The transition from diffused physical spaces
and into virtual worlds provides them with a new opportunity to reach a highly condensed mass of users that is more difficult to both
approach and monetize through other forms of advertising. This transition into virtual worlds can only accelerate as the current
generations of digital natives age and as virtual experiences become more authentic. Fast-moving brands like Nike, Louis Vuitton,
Balenciaga, or technology brands like Meta—to name just a few—recognized this shifting of the tide and have already developed
metaverse strategies.
Moreover, while NFTs and blockchain games have experienced a spectacular 2021, a severe drawback in the crypto market along with
fears of a global recession have both led to public interest and coin valuations substantially waning in recent months. As a result, this
correction will likely end most of the (low effort) endeavors in these areas. Nevertheless, we remain optimistic about the future and remain
confident that the top projects will succeed.
Given how fast-moving this space still is, an elemental understanding of the building blocks and trends that surround it is essential.
Therefore, in this report, we identify and discuss the top 10 prevailing trends in the metaverse, blockchain gaming, and NFT space.
Understanding these trends (and what drives them) will help companies endemic to gaming, consumer brands, and consumers alike
to navigate the murky waters of the metaverse, along with its connection to NFTs and blockchain games. We hope you find this
report insightful and useful for shaping your strategy in 2022 and beyond.

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Armadillo Studios to release its first branded slot – The Lioness with Amanda Nunes



Armadillo Studios to release its first branded slot - The Lioness with Amanda Nunes
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Armadillo Studios announces the upcoming release of its first branded slot, featuring the famous Brazilian MMA champion Amanda “The Lioness” Nunes. The new title will be live on August 2, 2022.

The Lioness, Armadillo Studios’ first branded title featuring the legendary Brazilian athlete Amanda Nunes, will increase the studio’s reach of new player bases and demographics.

The slot will be launched on August 2, after the title rematch with Julianna Peña on July 30 in Dallas, where Nunes is set to reconquer her title as the UFC bantamweight champion.

Amanda Nunes is an ambitious fighter who doesn’t show weakness in her matches, being one of the best ground wrestlers in MMA and going toe-to-toe with the world’s most skilled fighters.

The slot captures Amanda Nunes’ successful career by taking the players to the UFC cage. They can experience the world of MMA fighting through various interactive mechanics, a unique Fight Feature, Free Spins, a Lioness Link bonus, and a Fortune Bet mode that upgrades Nunes’ punching power.

The smooth gameplay, great soundtrack, and animations create a captivating slot showcasing a true champion with many wins under her belt.

David Stoveld, COO of Armadillo Studios, says: “As we make strides in our U.S. market expansion, we realize the importance of branded content. We are thrilled to finally be ready to release a slot centred around a true, one-of-a-kind MMA icon. The Lioness slot has really come together, and we are proud of the final game product as well as the opportunity to work alongside the legendary Amanda Nunes.”

Amanda Nunes’ global presence will significantly boost Armadillo Studios’ reach in the localized U.S. market and provide some well-needed gender balance to the casino vertical.

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Galaxy Racer appoints Syed Ibn-E-Ali as Chief Financial Officer for South-East Asia



Galaxy Racer appoints Syed Ibn-E-Ali as Chief Financial Officer for South-East Asia
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Galaxy Racer (GXR), the transmedia powerhouse focused on esports, content creators, music and sports, has appointed Syed Ibn-E-Ali as its new Chief Financial Officer for SEA. In his new role, he will mainly focus on the growth, strategy and finances of Galaxy Racer in South-East Asia.

Joining Galaxy Racer with over 14 years of experience in financial administration and operations management, Ali brings with him a deep understanding of Software as a Service (B2B), eCommerce and the video games industry, taking on major positions across multiple regions including the USA, South Asia and APAC.

Having worked at the top level of finance at significant tech, media and gaming companies, including Rocket Internet and Streamline Media Group, Ali will be bringing his considerable experience driving media and gaming companies forward to Galaxy Racer’s operations in South-East Asia.

In his new role, Syed Ibn-E-Ali will be responsible for helping with the organisation’s expansion across the SEA region, as well as focusing on the structuring of all Galaxy Racer’s SEA offices, policy implementation and corporate governance.

With an outstanding track record of building strong business partnerships, optimising business processes and delivering strategic growth, Ali’s rich experience in accounting, auditing and finance will give Galaxy Racer an exceptional foundation for success in South-East Asia.

Syed Ibn-E-Ali, Chief Financial Officer SEA at Galaxy Racer said: “The continued growth of Galaxy Racer speaks for itself, and I’m so excited to join the team as the Chief Financial Officer for SEA, and help take the brand’s presence in the region to the next level. Entertainment, especially esports has become one of the most hyper-growth industries in Asia and is evolving at a tremendous pace. So it’s incredibly exciting for me to be with Galaxy Racer, at the very forefront of that growth.”

Mitch Esguerra, CEO SEA at Galaxy Racer commented: “It’s a pleasure to have Syed Ibn-E-Ali join us as our new Chief Financial Officer for SEA. His vast levels of experience and expertise at the top levels of the finance industry, alongside his passion for the esports and gaming industries, will be vital for us as we continue to grow in the region and build our global footprint.”

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